WENC · West Enclave Merger Corp.

West Enclave Merger Corp., a Cayman Islands blank check company targeting business combinations particularly in Latin America or US-Latin America economic corridors, successfully completed its initial public offering on May 1, 2026. The IPO involved 10 million units at $10 per unit, each comprising one ordinary share and one right convertible to one-tenth ordinary share post-business combination. Concurrently, a private placement to sponsor West Enclave Sponsor LLC and EarlyBirdCapital generated $4.25 million from 425,000 units. Total net proceeds of $101 million were deposited into a trust account at approximately $10.10 per unit, providing security for public shareholders pending a business combination within 21 months. The underwriters, led by EarlyBirdCapital, fully exercised their 45-day over-allotment option on May 4, purchasing 1.5 million additional units for $15 million, with closing on May 6 alongside a $412,500 private placement. This brought total units issued to 11.5 million and aggregate IPO proceeds to $115 million. The audited balance sheet as of May 1, 2026, confirms strong liquidity with $101 million in trust and minimal liabilities of $535,685, including an EBC loan of $250,000. Units will begin separate trading on May 13 on NYSE under WENC U (combined), WENC (shares), and WENC RT (rights), enhancing liquidity. This capital raise positions the company, led by Co-CEOs Emilio Mahuad Quijano and Adrian Otero Rosiles, to pursue targets meeting 80% trust asset value threshold and control requirements, with founder shares no longer subject to forfeiture post-over-allotment.